Rimsha Ahmed The Meezan Bank block the payment facility for Netflix users.
The Meezan Bank closed online video streaming site Netflix payment facility by declaring it shariah Conformity.
According to sources, it is decided by the Shariah Board of the bank.
According to the official statement by the Meezan Bank.
AS PER THE REGULATIONS AND SHARIAH COMPLIANCE GUIDELINES OF STATE BANK OF PAKISTAN, MEEZAN BANK CANNOT PROVIDE ANY PRODUCT OR SERVICE THAT IS NOT IN LINE WITH THE GUIDELINES OF SHARIAH COMPLIANCE.
NETFLIX, AN ONLINE SUBSCRIPTION SERVICE FOR MOVIES AND VIDEOS, ALSO FALLS UNDER THE CATEGORY OF ENTERTAINMENT SERVICES THAT ARE NOT ALLOWED IN SHARIA. (IT IS NOT A MIXED CONTENT PLATFORM), HENCE BASED ON CUSTOMER COMPLAINS AND AFTER COMPLIANCE REVIEW, THE BANK WAS REQUIRED TO BLOCK NETFLIX AS PART OF ITS REGULATORY AND SHARIAH COMPLIANCE REQUIREMENT
Netflix users react to blocking their Netflix subscription fee.
When BBC talk to the bank, they verified the policy, however, stated that such actions are taken by the Shariah council of the bank.
Some people may disagree with this view but each organization has its own policies and regulatory requirements.
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